2024 Q1 Market Insights Powersports

POWERSPORTS MARKET INDUSTRY OVERVIEW
    

Traditional seasonality has returned to the powersports market, with values increasing from January into April. Q1 2024 started out notably lower than the same period of the previous two years, but the difference has narrowed in the most recent period.

In the motorcycle segment, values for the most recent 10 model years of cruisers averaged 5.4% higher in the March-April period compared to January-February, and 10.8% lower in the first four months of 2024 compared to 2023. Sportbikes averaged 6.3% higher in March-April compared to January-February, and 5.8% lower year-over-year.. In the side-by-side segment, the utility segment averaged 9.7% higher in March-April compared to January-February, and 11.2% lower year-over-year. The sport segment averaged 9.9% higher in March-April compared to January-February, and 11.0% lower year-over-year.

The powersports market in early 2024 performed better than we had predicted late last year, and values have been adjusted upwards in the most recent period. Customers are still spending on pre-owned equipment.